BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) Position Lessened by LPL Financial LLC

LPL Financial LLC reduced its stake in shares of BNY Mellon Strategic Municipal Bond Fund, Inc. (NYSE:DSM) by 8.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 663,945 shares of the investment management company’s stock after selling 63,117 shares during the period. LPL Financial LLC’s holdings in BNY Mellon Strategic Municipal Bond Fund were worth $3,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in DSM. Wolverine Asset Management LLC grew its position in shares of BNY Mellon Strategic Municipal Bond Fund by 229.1% during the fourth quarter. Wolverine Asset Management LLC now owns 35,568 shares of the investment management company’s stock worth $207,000 after acquiring an additional 24,761 shares during the last quarter. Melfa Wealth Management Inc. lifted its position in BNY Mellon Strategic Municipal Bond Fund by 39.5% in the 4th quarter. Melfa Wealth Management Inc. now owns 44,111 shares of the investment management company’s stock valued at $256,000 after purchasing an additional 12,500 shares during the last quarter. Raymond James Financial Inc. acquired a new position in BNY Mellon Strategic Municipal Bond Fund during the 4th quarter valued at about $343,000. Stifel Financial Corp grew its position in BNY Mellon Strategic Municipal Bond Fund by 4.4% in the 3rd quarter. Stifel Financial Corp now owns 61,442 shares of the investment management company’s stock worth $383,000 after purchasing an additional 2,603 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of BNY Mellon Strategic Municipal Bond Fund by 220.5% in the third quarter. HighTower Advisors LLC now owns 110,992 shares of the investment management company’s stock valued at $689,000 after purchasing an additional 76,362 shares during the period.

BNY Mellon Strategic Municipal Bond Fund Trading Down 3.2 %

Shares of NYSE DSM opened at $5.37 on Friday. BNY Mellon Strategic Municipal Bond Fund, Inc. has a 12-month low of $5.34 and a 12-month high of $6.38. The stock has a 50 day simple moving average of $5.87 and a 200-day simple moving average of $5.95.

BNY Mellon Strategic Municipal Bond Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, April 14th will be given a dividend of $0.018 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $0.22 dividend on an annualized basis and a yield of 4.02%.

About BNY Mellon Strategic Municipal Bond Fund

BNY Mellon Strategic Municipal Bond Fund, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc The fund invests in the fixed income markets of the United States. It primarily invests in investment grade municipal bonds which are exempt from federal income tax.